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PC Connection (CNXN) Financials

PC Connection logo
$78.55 -2.53 (-3.12%)
Closing price 08/17/2026 04:00 PM Eastern
Extended Trading
$78.55 0.00 (0.00%)
As of 05:31 AM Eastern
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Annual Income Statements for PC Connection

Annual Income Statements for PC Connection

This table shows PC Connection's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 47 48 55 65 82 56 70 89 83 87 84
Consolidated Net Income / (Loss)		 47 48 55 65 82 56 70 89 83 87 84
Net Income / (Loss) Continuing Operations		 47 48 55 65 82 56 70 89 83 87 84
Total Pre-Tax Income 		78 80 78 89 113 73 97 122 113 117 114
Total Operating Income		 79 81 78 86 112 72 97 121 103 97 99
Total Gross Profit		 341 371 382 411 451 419 465 526 512 520 539
Total Revenue		 2,574 2,693 2,912 2,699 2,820 2,590 2,893 3,125 2,851 2,802 2,873
Operating Revenue		 2,574 2,693 2,912 2,699 2,820 2,590 2,893 3,125 2,851 2,802 2,873
Total Cost of Revenue		 2,233 2,321 2,530 2,288 2,369 2,171 2,428 2,599 2,339 2,282 2,333
Operating Cost of Revenue		 2,233 2,321 2,530 2,288 2,369 2,171 2,428 2,599 2,339 2,282 2,333
Total Operating Expenses		 262 291 305 325 339 347 368 406 409 423 440
Selling, General & Admin Expense		 262 287 301 324 339 346 368 406 406 422 434
Restructuring Charge		 - 3.41 3.64 0.97 0.70 0.99 0.00 0.00 2.69 0.42 6.01
Total Other Income / (Expense), net		 -0.09 -0.07 0.10 2.98 0.71 1.12 0.01 1.08 9.96 20 14
Interest & Investment Income		 - - - 3.12 - - - 1.08 9.96 19 14
Other Income / (Expense), net		 - -0.07 0.10 0.00 0.71 1.12 0.01 0.00 0.00 1.70 0.08
Income Tax Expense		 32 32 23 24 31 17 27 32 30 30 30
Basic Earnings per Share		 $1.77 $1.81 $2.05 $2.42 $3.12 $2.13 $2.67 $3.40 $3.17 $3.31 $3.28
Weighted Average Basic Shares Outstanding		 26.40M 26.53M 26.77M 26.72M 26.34M 26.16M 26.20M 26.28M 26.29M 26.32M 25.51M
Diluted Earnings per Share		 $1.76 $1.80 $2.04 $2.41 $3.10 $2.12 $2.65 $3.37 $3.15 $3.29 $3.27
Weighted Average Diluted Shares Outstanding		 26.62M 26.72M 26.89M 26.85M 26.51M 26.34M 26.36M 26.44M 26.43M 26.51M 25.63M
Weighted Average Basic & Diluted Shares Outstanding		 26.50M 26.60M 26.80M 26.70M 26.34M 26.17M 26.26M 26.31M 26.36M 26.16M 25.20M

Quarterly Income Statements for PC Connection

This table shows PC Connection's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 24 13 26 27 21 13 25 25 21 17 33
Consolidated Net Income / (Loss)		 24 13 26 27 21 13 25 25 21 17 33
Net Income / (Loss) Continuing Operations		 24 13 26 27 21 13 25 25 21 17 33
Total Pre-Tax Income 		32 18 36 37 27 18 34 34 27 24 46
Total Operating Income		 28 13 31 30 23 15 31 30 24 20 43
Total Gross Profit		 130 118 137 135 130 127 138 139 136 133 157
Total Revenue		 696 632 736 725 709 701 760 709 703 722 854
Operating Revenue		 696 632 736 725 709 701 760 709 703 722 854
Total Cost of Revenue		 567 514 600 589 579 574 622 570 567 589 697
Operating Cost of Revenue		 567 514 600 589 579 574 622 570 567 589 697
Total Operating Expenses		 102 105 106 105 107 113 107 108 112 113 114
Selling, General & Admin Expense		 102 105 105 105 107 110 107 108 109 109 114
Other Operating Expenses / (Income)		 - 0.00 0.42 0.00 - 2.93 0.00 0.00 - 3.06 0.00
Total Other Income / (Expense), net		 4.11 4.57 4.65 6.54 4.67 3.98 3.22 3.69 3.57 3.36 2.53
Interest & Investment Income		 - 4.57 4.65 4.84 - 3.90 3.22 3.69 3.57 3.36 2.53
Other Income / (Expense), net		 - 0.00 0.00 1.70 - 0.08 0.00 0.00 - 0.00 0.00
Income Tax Expense		 8.28 4.88 9.41 9.52 6.59 5.02 9.32 9.22 6.45 6.37 12
Basic Earnings per Share		 $0.91 $0.50 $0.99 $1.03 $0.79 $0.52 $0.98 $0.98 $0.80 $0.68 $1.31
Weighted Average Basic Shares Outstanding		 26.29M 26.36M 26.35M 26.29M 26.32M 26.08M 25.41M 25.35M 25.51M 25.20M 25.23M
Diluted Earnings per Share		 $0.89 $0.50 $0.99 $1.02 $0.78 $0.51 $0.97 $0.97 $0.82 $0.68 $1.31
Weighted Average Diluted Shares Outstanding		 26.43M 26.53M 26.52M 26.50M 26.51M 26.22M 25.52M 25.49M 25.63M 25.28M 25.34M
Weighted Average Basic & Diluted Shares Outstanding		 26.36M 26.36M 26.29M 26.29M 26.16M 25.40M 25.39M 25.25M 25.20M 25.23M 25.24M

Annual Cash Flow Statements for PC Connection

This table details how cash moves in and out of PC Connection's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 19 -31 0.81 42 -1.64 5.60 13 15 22 33 15
Net Cash From Operating Activities		 31 34 19 87 37 36 58 35 198 174 65
Net Cash From Continuing Operating Activities		 31 34 19 87 37 36 58 35 198 174 65
Net Income / (Loss) Continuing Operations		 47 48 55 65 82 56 70 89 83 87 84
Consolidated Net Income / (Loss)		 47 48 55 65 82 56 70 89 83 87 84
Depreciation Expense		 8.96 10 12 14 13 14 12 12 13 13 12
Amortization Expense		 - - - - - - 0.00 0.00 -1.52 -4.24 0.57
Non-Cash Adjustments To Reconcile Net Income		 1.58 0.99 2.42 2.81 2.10 4.95 7.50 8.94 9.44 10 11
Changes in Operating Assets and Liabilities, net		 -27 -26 -50 5.37 -61 -38 -32 -75 94 68 -42
Net Cash From Investing Activities		 -13 -55 -12 -21 -26 -11 -8.73 -9.08 -160 -115 43
Net Cash From Continuing Investing Activities		 -13 -55 -12 -21 -26 -11 -8.73 -9.08 -160 -115 43
Purchase of Property, Plant & Equipment		 -12 -12 -12 -21 -26 -11 -10 -9.08 -9.60 -7.58 -7.39
Purchase of Investments		 - - - - - - 0.00 0.00 -151 -358 -264
Sale and/or Maturity of Investments		 - - - - - - - 0.00 0.00 251 314
Net Cash From Financing Activities		 1.20 -9.72 -6.71 -24 -13 -19 -36 -11 -16 -25 -93
Net Cash From Continuing Financing Activities		 1.20 -9.72 -6.71 -24 -13 -19 -36 -11 -16 -25 -93
Repayment of Debt		 - - - -0.86 - 0.00 0.00 -36 -88 -26 -0.73
Repurchase of Common Equity		 - - - -15 -4.48 -10 0.00 0.00 -5.39 -12 -76
Payment of Dividends		 - -11 -9.04 -9.12 -8.45 -8.43 -35 -8.95 -8.41 -11 -15
Issuance of Debt		 - - - 0.86 - 0.00 0.00 36 88 26 0.73
Issuance of Common Equity		 0.88 0.96 1.20 1.25 1.25 0.54 0.00 0.00 1.09 1.11 1.23
Other Financing Activities, net		 0.33 -0.09 1.14 -0.64 -0.91 -1.36 -1.77 -2.24 -3.02 -3.42 -3.04
Cash Income Taxes Paid		 30 30 29 20 28 19 21 34 42 29 30

Quarterly Cash Flow Statements for PC Connection

This table details how cash moves in and out of PC Connection's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -96 2.63 -19 39 11 4.14 4.29 1.10 5.38 3.04 -73
Net Cash From Operating Activities		 12 57 38 53 25 -52 26 64 27 14 -64
Net Cash From Continuing Operating Activities		 12 57 38 53 25 -52 26 64 27 14 -64
Net Income / (Loss) Continuing Operations		 24 13 26 27 21 13 25 25 21 17 33
Consolidated Net Income / (Loss)		 24 13 26 27 21 13 25 25 21 17 33
Depreciation Expense		 3.20 3.27 3.27 3.28 3.17 3.10 2.87 2.89 2.85 2.80 2.74
Amortization Expense		 -1.52 -2.32 -3.27 1.19 0.17 -0.05 -1.63 0.06 2.18 -0.89 -0.56
Non-Cash Adjustments To Reconcile Net Income		 1.64 2.24 2.40 2.43 3.37 2.54 3.13 2.62 2.88 2.93 4.23
Changes in Operating Assets and Liabilities, net		 -15 41 9.82 19 -2.18 -71 -2.90 34 -1.21 -7.79 -103
Net Cash From Investing Activities		 -104 -52 -52 -6.26 -5.60 105 -1.62 -54 -6.48 -3.04 -3.31
Net Cash From Continuing Investing Activities		 -104 -52 -52 -6.26 -5.60 105 -1.62 -54 -6.48 -3.04 -3.31
Purchase of Property, Plant & Equipment		 -2.24 -1.61 -1.82 -1.79 -2.36 -1.71 -1.62 -1.87 -2.19 -1.98 -1.93
Purchase of Investments		 -102 -100 -103 -52 -103 -52 - -103 -109 -54 -51
Sale and/or Maturity of Investments		 - 50 53 47 100 159 - 51 104 53 50
Net Cash From Financing Activities		 -3.70 -3.05 -5.94 -7.39 -8.84 -48 -20 -9.29 -16 -8.19 -5.42
Net Cash From Continuing Financing Activities		 -3.70 -3.05 -5.94 -7.39 -8.84 -48 -20 -9.29 -16 -8.19 -5.42
Repurchase of Common Equity		 - -0.19 -3.43 -4.12 -4.64 -44 -17 -5.07 -11 -2.48 -0.68
Payment of Dividends		 -2.10 -2.64 -2.64 -2.63 -2.63 -3.91 -3.81 -3.80 -3.78 -5.04 -5.05
Other Financing Activities, net		 -2.15 -0.23 -0.41 -0.64 -2.14 -0.52 -0.44 -0.43 -1.66 -0.67 -0.30

Annual Balance Sheets for PC Connection

This table presents PC Connection's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 639 686 568 805 937 1,015 1,083 1,100 1,188 1,299 1,351
Total Current Assets		 553 559 562 669 776 859 932 954 1,049 1,167 1,221
Cash & Equivalents		 80 49 - 92 90 96 108 123 145 178 193
Short-Term Investments		 - - - - - - - 0.00 152 264 213
Accounts Receivable		 356 412 450 448 550 611 608 610 607 611 648
Inventories, net		 103 91 107 119 125 141 207 209 124 95 144
Prepaid Expenses		 4.25 5.45 5.74 9.66 11 11 10 12 16 18 23
Plant, Property, & Equipment, net		 32 39 0.00 52 64 62 61 59 57 53 47
Total Noncurrent Assets		 54 88 5.64 84 97 95 90 87 83 80 83
Goodwill		 51 74 - 74 74 74 74 74 74 74 74
Intangible Assets		 1.67 13 - 9.56 8.31 7.09 5.87 4.65 3.43 2.21 0.99
Other Noncurrent Operating Assets		 1.05 1.37 5.64 1.21 15 14 10 8.61 6.05 4.17 8.55
Total Liabilities & Shareholders' Equity		 639 686 647 805 937 1,015 1,083 1,100 1,188 1,299 1,351
Total Liabilities		 247 253 264 279 340 379 401 334 348 388 441
Total Current Liabilities		 222 230 248 260 309 342 375 311 328 371 420
Accounts Payable		 167 178 194 202 236 267 282 233 264 300 338
Accrued Expenses		 36 31 31 34 45 58 62 54 44 48 51
Current Employee Benefit Liabilities		 19 21 23 24 28 18 31 24 20 23 31
Total Noncurrent Liabilities		 25 22 16 20 31 37 26 23 20 17 20
Noncurrent Deferred & Payable Income Tax Liabilities		 22 20 16 17 20 19 19 18 16 15 20
Other Noncurrent Operating Liabilities		 3.01 2.84 - 2.47 11 18 7.00 5.16 3.81 2.07 0.50
Commitments & Contingencies		 0.00 0.00 - - - - - - - 0.00 0.00
Total Equity & Noncontrolling Interests		 392 433 384 526 597 636 682 766 841 911 910
Total Preferred & Common Equity		 392 433 482 526 597 636 682 766 841 911 910
Total Common Equity		 392 433 384 526 597 636 682 766 841 911 910
Common Stock		 109 111 - 116 118 120 123 126 131 137 145
Retained Earnings		 299 338 384 441 515 562 606 686 761 837 906
Treasury Stock		 -16 -16 - -31 -36 -46 -46 -46 -51 -64 -141
Accumulated Other Comprehensive Income / (Loss)		 - - - - - - - 0.00 0.08 0.17 0.08

Quarterly Balance Sheets for PC Connection

This table presents PC Connection's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 1,118 1,164 1,181 1,161 1,283 1,286 1,248 1,269 1,306 1,425 1,428
Total Current Assets		 974 1,022 1,041 1,023 1,148 1,152 1,117 1,139 1,174 1,291 1,294
Cash & Equivalents		 135 244 241 148 128 168 182 187 188 196 124
Short-Term Investments		 - - 49 204 258 262 158 159 211 215 217
Accounts Receivable		 622 593 588 527 599 585 604 637 617 661 727
Inventories, net		 199 160 142 124 137 114 152 133 135 194 205
Prepaid Expenses		 18 17 14 17 17 17 20 22 23 23 22
Plant, Property, & Equipment, net		 58 58 58 56 54 53 52 48 48 47 46
Total Noncurrent Assets		 86 84 83 82 82 81 79 82 83 88 88
Goodwill		 74 74 74 74 74 74 74 74 74 74 74
Intangible Assets		 4.34 4.04 3.73 3.12 2.82 2.51 1.90 1.60 1.29 0.68 0.47
Other Noncurrent Operating Assets		 7.62 0.92 0.82 5.45 5.18 4.65 3.82 6.74 8.48 14 14
Total Liabilities & Shareholders' Equity		 1,118 1,164 1,181 1,161 1,283 1,286 1,248 1,269 1,306 1,425 1,428
Total Liabilities		 342 370 362 308 409 388 371 384 403 503 475
Total Current Liabilities		 318 347 340 290 389 367 354 368 384 477 449
Accounts Payable		 239 277 265 219 317 293 274 304 313 396 378
Accrued Expenses		 55 50 49 48 49 46 52 41 41 53 47
Current Employee Benefit Liabilities		 24 20 26 23 23 28 28 23 30 28 25
Total Noncurrent Liabilities		 23 23 22 19 20 21 17 16 19 26 26
Noncurrent Deferred & Payable Income Tax Liabilities		 18 18 18 16 17 18 15 15 18 20 19
Other Noncurrent Operating Liabilities		 5.30 0.68 0.65 2.78 2.50 2.55 1.58 1.15 0.44 6.43 6.68
Commitments & Contingencies		 - - - - - - - - - - 0.00
Total Equity & Noncontrolling Interests		 776 794 819 853 875 897 877 885 903 922 953
Total Preferred & Common Equity		 776 794 819 853 875 897 877 885 903 922 953
Total Common Equity		 776 794 819 853 875 897 877 885 903 922 953
Common Stock		 128 130 131 133 135 137 139 142 144 147 150
Retained Earnings		 698 716 739 771 795 819 847 868 889 918 946
Treasury Stock		 -49 -51 -51 -52 -55 -59 -109 -125 -130 -143 -143
Accumulated Other Comprehensive Income / (Loss)		 - - 0.15 -0.06 -0.10 0.48 0.06 -0.05 0.09 -0.09 -0.21

Annual Metrics And Ratios for PC Connection

This table displays calculated financial ratios and metrics derived from PC Connection's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 4.49% 4.61% 8.14% -7.29% 4.47% -8.15% 11.67% 8.03% -8.78% -1.70% 2.52%
EBITDA Growth		 10.02% 3.87% -1.59% 11.50% 26.31% -31.11% 25.26% 21.90% -13.77% -5.93% 3.83%
EBIT Growth		 9.94% 2.42% -3.52% 10.38% 31.50% -35.04% 31.87% 24.90% -14.43% -4.26% 0.60%
NOPAT Growth		 9.70% 2.71% 13.78% 13.94% 30.72% -32.70% 27.30% 26.50% -14.12% -5.25% 1.58%
Net Income Growth		 9.71% 2.74% 14.02% 17.75% 27.12% -32.09% 25.36% 27.63% -6.67% 4.59% -3.87%
EPS Growth		 9.32% 2.27% 13.33% 18.14% 28.63% -31.61% 25.00% 27.17% -6.53% 4.44% -0.61%
Operating Cash Flow Growth		 -12.81% 8.83% -42.48% 349.48% -57.85% -1.38% 59.99% -39.59% 467.38% -12.17% -62.36%
Free Cash Flow Firm Growth		 2.97% -186.05% 668.79% -150.41% 112.50% 151.53% 69.43% -46.88% 807.85% -16.20% -74.17%
Invested Capital Growth		 6.54% 23.06% -21.04% 43.11% 16.82% 6.59% 6.19% 12.03% -15.49% -13.83% 7.49%
Revenue Q/Q Growth		 2.13% 1.94% 0.93% -1.92% 0.25% -1.56% 4.50% -2.12% -1.25% 0.45% -0.21%
EBITDA Q/Q Growth		 3.64% -0.52% 0.38% 5.20% 2.79% -9.00% 10.43% -5.54% 2.45% -1.78% 2.44%
EBIT Q/Q Growth		 3.70% -1.30% 0.12% 5.44% 3.67% -10.65% 12.21% -6.01% 4.07% -3.52% 0.97%
NOPAT Q/Q Growth		 3.70% -1.27% 16.25% -1.90% 2.96% -10.25% 10.89% -4.46% 3.43% -4.70% 1.10%
Net Income Q/Q Growth		 3.70% -1.26% 16.39% 0.90% 0.82% -9.23% 9.54% -3.84% 6.33% -3.39% -0.01%
EPS Q/Q Growth		 3.53% -1.64% 15.91% 1.69% 0.98% -8.62% 8.61% -3.99% 6.42% -3.24% 1.24%
Operating Cash Flow Q/Q Growth		 -3.01% -25.92% -12.84% 20.26% -19.74% -16.01% 4,036.88% -46.00% -3.37% 8.05% 3.43%
Free Cash Flow Firm Q/Q Growth		 47.76% -1,706.22% 9,337.05% -236.16% -45.21% -16.08% 376.28% -60.59% -2.41% 4.63% 2.74%
Invested Capital Q/Q Growth		 0.15% 6.18% -25.56% 3.14% 4.66% 3.93% -3.74% 0.52% 1.91% 0.03% -0.02%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 13.25% 13.78% 13.12% 15.23% 16.00% 16.17% 16.06% 16.84% 17.95% 18.55% 18.77%
EBITDA Margin		 3.40% 3.38% 3.07% 3.70% 4.47% 3.35% 3.76% 4.24% 4.01% 3.84% 3.89%
Operating Margin		 3.05% 2.99% 2.66% 3.17% 3.97% 2.78% 3.34% 3.86% 3.62% 3.46% 3.46%
EBIT Margin		 3.05% 2.99% 2.67% 3.17% 4.00% 2.83% 3.34% 3.86% 3.62% 3.52% 3.46%
Profit (Net Income) Margin		 1.82% 1.79% 1.88% 2.39% 2.91% 2.15% 2.42% 2.86% 2.92% 3.11% 2.91%
Tax Burden Percent		 59.68% 59.80% 70.67% 72.85% 72.87% 76.19% 72.42% 73.35% 73.62% 74.13% 73.62%
Interest Burden Percent		 99.89% 100.00% 100.00% 103.48% 100.00% 100.00% 100.00% 100.90% 109.66% 118.96% 114.46%
Effective Tax Rate		 40.32% 40.20% 29.33% 27.15% 27.13% 23.81% 27.58% 26.65% 26.38% 25.87% 26.38%
Return on Invested Capital (ROIC)		 15.49% 13.83% 15.93% 16.93% 17.33% 10.48% 12.54% 14.53% 12.80% 14.22% 15.04%
ROIC Less NNEP Spread (ROIC-NNEP)		 15.56% 13.89% 15.83% 14.42% 16.77% 9.56% 12.54% 13.84% 9.31% 10.13% 12.54%
Return on Net Nonoperating Assets (RNNOA)		 -2.94% -2.18% -2.53% -2.74% -2.71% -1.44% -1.94% -2.21% -2.43% -4.28% -5.85%
Return on Equity (ROE)		 12.55% 11.65% 13.41% 14.18% 14.62% 9.04% 10.60% 12.32% 10.36% 9.94% 9.19%
Cash Return on Invested Capital (CROIC)		 9.16% -6.85% 39.45% -18.54% 1.82% 4.10% 6.53% 3.18% 29.59% 29.08% 7.82%
Operating Return on Assets (OROA)		 13.33% 12.14% 12.38% 12.48% 12.93% 7.50% 9.20% 11.04% 9.02% 7.94% 7.50%
Return on Assets (ROA)		 7.94% 7.26% 8.75% 9.41% 9.42% 5.71% 6.66% 8.17% 7.28% 7.00% 6.32%
Return on Common Equity (ROCE)		 12.55% 11.65% 13.41% 14.18% 14.62% 9.04% 10.60% 12.32% 10.36% 9.94% 9.19%
Return on Equity Simple (ROE_SIMPLE)		 11.93% 11.10% 14.25% 12.28% 13.75% 8.76% 10.24% 11.64% 9.90% 9.56% 0.00%
Net Operating Profit after Tax (NOPAT)		 47 48 55 62 82 55 70 88 76 72 73
NOPAT Margin		 1.82% 1.79% 1.88% 2.31% 2.89% 2.12% 2.42% 2.83% 2.66% 2.57% 2.54%
Net Nonoperating Expense Percent (NNEP)		 -0.07% -0.06% 0.11% 2.51% 0.57% 0.92% 0.00% 0.69% 3.49% 4.09% 2.50%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 11.54% 9.03% 7.90% 8.03%
Cost of Revenue to Revenue		 86.75% 86.22% 86.88% 84.77% 84.00% 83.83% 83.94% 83.16% 82.05% 81.45% 81.23%
SG&A Expenses to Revenue		 10.20% 10.67% 10.33% 12.02% 12.01% 13.35% 12.72% 12.98% 14.24% 15.07% 15.11%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 10.20% 10.79% 10.46% 12.05% 12.03% 13.39% 12.72% 12.98% 14.33% 15.09% 15.32%
Earnings before Interest and Taxes (EBIT)		 79 80 78 86 113 73 97 121 103 99 99
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 88 91 89 100 126 87 109 133 114 108 112
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.40 1.60 1.72 1.44 2.09 1.86 1.63 1.59 2.09 2.00 1.60
Price to Tangible Book Value (P/TBV)		 1.62 2.00 1.72 1.71 2.43 2.13 1.84 1.77 2.30 2.18 1.74
Price to Revenue (P/Rev)		 0.21 0.26 0.23 0.28 0.44 0.46 0.38 0.39 0.62 0.65 0.51
Price to Earnings (P/E)		 11.73 14.40 12.05 11.70 15.23 21.24 15.89 13.65 21.08 20.91 17.36
Dividend Yield		 1.93% 1.30% 1.38% 1.13% 0.67% 0.00% 3.11% 0.73% 0.99% 0.58% 1.04%
Earnings Yield		 8.52% 6.94% 8.30% 8.55% 6.57% 4.71% 6.29% 7.33% 4.74% 4.78% 5.76%
Enterprise Value to Invested Capital (EV/IC)		 1.50 1.68 2.18 1.53 2.29 2.01 1.75 1.70 2.68 2.94 2.08
Enterprise Value to Revenue (EV/Rev)		 0.18 0.24 0.23 0.25 0.41 0.42 0.35 0.35 0.51 0.49 0.36
Enterprise Value to EBITDA (EV/EBITDA)		 5.36 7.08 7.39 6.66 9.21 12.55 9.22 8.26 12.76 12.82 9.38
Enterprise Value to EBIT (EV/EBIT)		 5.97 8.00 8.52 7.75 10.30 14.88 10.39 9.08 14.14 13.96 10.54
Enterprise Value to NOPAT (EV/NOPAT)		 10.01 13.37 12.07 10.64 14.22 19.83 14.35 12.38 19.20 19.16 14.32
Enterprise Value to Operating Cash Flow (EV/OCF)		 15.20 19.17 34.22 7.65 31.71 30.17 17.36 31.38 7.37 7.93 16.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 16.93 0.00 4.87 0.00 135.85 50.67 27.54 56.59 8.30 9.37 27.54
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.19 -0.16 -0.16 -0.19 -0.16 -0.15 -0.15 -0.16 -0.26 -0.42 -0.47
Leverage Ratio		 1.58 1.60 1.53 1.51 1.55 1.58 1.59 1.51 1.42 1.42 1.46
Compound Leverage Factor		 1.58 1.60 1.53 1.56 1.55 1.58 1.59 1.52 1.56 1.69 1.67
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 7.05 7.22 8.71 6.70 6.98 6.05 6.03 6.97 7.34 6.86 6.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.49 2.43 2.28 2.58 2.51 2.51 2.49 3.07 3.20 3.14 2.90
Quick Ratio		 1.97 2.00 1.87 2.08 2.07 2.06 1.91 2.36 2.76 2.84 2.51
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 28 -24 136 -68 8.54 21 36 19 176 147 38
Operating Cash Flow to CapEx		 250.16% 282.59% 163.69% 408.89% 142.67% 327.18% 564.39% 384.37% 2,063.10% 2,295.29% 885.61%
Free Cash Flow to Firm to Interest Expense		 318.56 0.00 0.00 -471.53 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 354.74 0.00 0.00 598.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 212.93 0.00 0.00 452.42 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 4.37 4.06 4.65 3.93 3.24 2.65 2.76 2.86 2.49 2.25 2.17
Accounts Receivable Turnover		 7.93 7.01 6.65 5.92 5.66 4.46 4.75 5.13 4.68 4.60 4.56
Inventory Turnover		 23.06 24.02 27.14 21.28 19.43 16.36 13.98 12.52 14.05 20.82 19.56
Fixed Asset Turnover		 85.67 75.18 0.00 0.00 48.61 41.19 47.21 52.00 49.22 51.33 57.78
Accounts Payable Turnover		 15.33 13.48 13.60 11.56 10.83 8.64 8.85 10.10 9.43 8.09 7.31
Days Sales Outstanding (DSO)		 46.03 52.06 54.91 61.65 64.54 81.77 76.88 71.12 77.92 79.34 80.01
Days Inventory Outstanding (DIO)		 15.83 15.20 13.45 17.15 18.79 22.32 26.11 29.16 25.97 17.53 18.66
Days Payable Outstanding (DPO)		 23.82 27.07 26.84 31.57 33.69 42.23 41.24 36.13 38.73 45.09 49.93
Cash Conversion Cycle (CCC)		 38.04 40.18 41.52 47.24 49.64 61.86 61.75 64.15 65.17 51.78 48.74
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 312 384 303 434 507 541 574 643 544 468 503
Invested Capital Turnover		 8.50 7.73 8.47 7.32 5.99 4.94 5.19 5.13 4.80 5.54 5.91
Increase / (Decrease) in Invested Capital		 19 72 -81 131 73 33 33 69 -100 -75 35
Enterprise Value (EV)		 469 644 661 664 1,161 1,089 1,003 1,095 1,458 1,378 1,047
Market Capitalization		 549 693 661 756 1,251 1,185 1,111 1,218 1,755 1,821 1,454
Book Value per Share		 $14.84 $16.32 $14.35 $19.67 $22.70 $24.31 $26.04 $29.15 $32.00 $34.65 $36.05
Tangible Book Value per Share		 $12.84 $13.07 $14.35 $16.56 $19.59 $21.23 $23.01 $26.17 $29.07 $31.77 $33.10
Total Capital		 392 433 385 526 597 636 682 766 841 911 910
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -80 -49 0.00 -92 -90 -96 -108 -123 -297 -443 -407
Capital Expenditures (CapEx)		 12 12 12 21 26 11 10 9.08 9.60 7.58 7.39
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 251 280 318 318 377 421 449 520 423 353 394
Debt-free Net Working Capital (DFNWC)		 331 329 318 409 467 517 558 643 721 796 800
Net Working Capital (NWC)		 331 329 318 409 467 517 558 643 721 796 800
Net Nonoperating Expense (NNE)		 0.05 0.04 -0.07 -2.17 -0.52 -0.85 -0.00 -0.79 -7.33 -15 -11
Net Nonoperating Obligations (NNO)		 -80 -49 -81 -92 -90 -96 -108 -123 -297 -443 -407
Total Depreciation and Amortization (D&A)		 8.96 10 12 14 13 14 12 12 11 8.75 12
Debt-free, Cash-free Net Working Capital to Revenue		 9.74% 10.39% 10.91% 11.77% 13.38% 16.26% 15.54% 16.65% 14.86% 12.60% 13.71%
Debt-free Net Working Capital to Revenue		 12.85% 12.22% 10.91% 15.17% 16.58% 19.95% 19.28% 20.58% 25.28% 28.39% 27.86%
Net Working Capital to Revenue		 12.85% 12.22% 10.91% 15.17% 16.58% 19.95% 19.28% 20.58% 25.28% 28.39% 27.86%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.77 $1.81 $2.05 $2.42 $3.12 $2.13 $2.67 $3.40 $3.17 $3.31 $3.28
Adjusted Weighted Average Basic Shares Outstanding		 26.40M 26.53M 26.77M 26.72M 26.34M 26.16M 26.20M 26.28M 26.29M 26.32M 25.51M
Adjusted Diluted Earnings per Share		 $1.76 $1.80 $2.04 $2.41 $3.10 $2.12 $2.65 $3.37 $3.15 $3.29 $3.27
Adjusted Weighted Average Diluted Shares Outstanding		 26.62M 26.72M 26.89M 26.85M 26.51M 26.34M 26.36M 26.44M 26.43M 26.51M 25.63M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 26.50M 26.72M 26.85M 26.40M 26.34M 26.17M 26.26M 26.31M 26.36M 26.16M 25.20M
Normalized Net Operating Profit after Tax (NOPAT)		 47 50 57 63 82 56 70 88 78 72 78
Normalized NOPAT Margin		 1.82% 1.86% 1.97% 2.34% 2.91% 2.15% 2.42% 2.83% 2.73% 2.58% 2.70%
Pre Tax Income Margin		 3.05% 2.99% 2.67% 3.28% 4.00% 2.83% 3.34% 3.89% 3.97% 4.19% 3.96%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 902.92 0.00 0.00 590.94 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 538.84 0.00 0.00 430.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 761.11 0.00 0.00 444.47 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 397.03 0.00 0.00 284.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 22.01% 16.48% 14.12% 10.29% 15.11% 49.49% 10.03% 10.10% 12.09% 18.27%
Augmented Payout Ratio		 0.00% 22.01% 16.48% 37.93% 15.75% 33.44% 49.49% 10.03% 16.57% 26.30% 109.37%

Quarterly Metrics And Ratios for PC Connection

This table displays calculated financial ratios and metrics derived from PC Connection's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 25,198,472.00 25,226,047.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 25,198,472.00 25,226,047.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.68 1.31
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -4.91% -13.13% 0.40% 4.56% 1.78% 10.92% 3.15% -2.16% -0.84% 2.97% 12.41%
EBITDA Growth		 11.49% -32.02% 9.79% 2.55% -12.32% 22.53% 3.92% -8.28% 10.23% 25.39% 40.63%
EBIT Growth		 18.46% -25.68% 23.33% -0.88% -18.99% 8.42% -0.07% -4.65% 4.24% 38.55% 39.21%
NOPAT Growth		 13.63% -25.91% 24.09% -5.90% -17.13% 7.75% -1.27% -0.77% 4.76% 39.53% 39.54%
Net Income Growth		 26.32% -7.35% 32.82% 5.71% -12.86% 2.49% -5.24% -8.57% -0.04% 27.76% 33.80%
EPS Growth		 27.14% -7.41% 32.00% 5.15% -12.36% 2.00% -2.02% -4.90% 5.13% 33.33% 35.05%
Operating Cash Flow Growth		 -35.99% 193.69% -66.89% 5.42% 105.45% -191.45% -31.60% 21.16% 8.59% 127.23% -343.01%
Free Cash Flow Firm Growth		 336.80% 1,461.32% -13.00% -32.86% -23.27% -116.81% -130.87% -115.16% -118.49% 262.44% -54.35%
Invested Capital Growth		 -15.49% -21.97% -11.76% -12.21% -13.83% 7.18% 10.14% 7.54% 7.49% -4.92% 13.59%
Revenue Q/Q Growth		 0.49% -9.25% 16.53% -1.60% -2.18% -1.11% 8.37% -6.66% -0.86% 2.69% 18.30%
EBITDA Q/Q Growth		 -16.12% -53.74% 114.65% 17.10% -28.28% -32.03% 82.05% 3.35% -13.81% -22.69% 104.19%
EBIT Q/Q Growth		 -12.74% -51.82% 129.64% 2.66% -28.68% -35.52% 111.65% -2.04% -22.03% -14.29% 112.67%
NOPAT Q/Q Growth		 -12.23% -52.61% 131.53% -2.28% -22.71% -38.38% 112.14% -1.78% -18.40% -17.93% 112.15%
Net Income Q/Q Growth		 -7.11% -44.68% 98.88% 3.43% -23.42% -34.94% 83.88% -0.20% -16.28% -16.85% 92.58%
EPS Q/Q Growth		 -8.25% -43.82% 98.00% 3.03% -23.53% -34.62% 90.20% 0.00% -15.46% -17.07% 92.65%
Operating Cash Flow Q/Q Growth		 -75.53% 366.15% -32.98% 37.91% -52.31% -307.49% 150.12% 144.30% -57.26% -47.96% -547.25%
Free Cash Flow Firm Q/Q Growth		 -7.49% 25.24% -41.67% -0.66% 5.73% -127.44% -7.11% 51.22% -28.99% 341.04% -201.78%
Invested Capital Q/Q Growth		 1.91% -7.89% -2.32% -4.27% 0.03% 14.58% 0.39% -6.53% -0.02% 1.35% 19.93%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 18.63% 18.68% 18.54% 18.68% 18.31% 18.16% 18.13% 19.55% 19.29% 18.39% 18.44%
EBITDA Margin		 4.25% 2.28% 4.20% 5.00% 3.66% 2.52% 4.23% 4.68% 4.07% 3.07% 5.29%
Operating Margin		 4.01% 2.13% 4.20% 4.15% 3.19% 2.07% 4.07% 4.27% 3.36% 2.80% 5.04%
EBIT Margin		 4.01% 2.13% 4.20% 4.38% 3.19% 2.08% 4.07% 4.27% 3.36% 2.80% 5.04%
Profit (Net Income) Margin		 3.41% 2.08% 3.55% 3.73% 2.92% 1.92% 3.26% 3.49% 2.95% 2.39% 3.88%
Tax Burden Percent		 74.18% 72.95% 73.55% 73.98% 75.87% 72.88% 72.67% 72.86% 76.25% 73.02% 72.84%
Interest Burden Percent		 114.72% 133.92% 115.04% 115.24% 120.64% 126.72% 110.41% 112.19% 115.11% 116.63% 105.87%
Effective Tax Rate		 25.82% 27.05% 26.45% 26.02% 24.13% 27.12% 27.33% 27.14% 23.75% 26.98% 27.16%
Return on Invested Capital (ROIC)		 14.30% 7.50% 16.32% 17.08% 13.42% 8.36% 16.64% 18.43% 15.13% 11.31% 19.05%
ROIC Less NNEP Spread (ROIC-NNEP)		 12.84% 6.13% 15.23% 15.73% 12.46% 7.52% 16.01% 17.78% 14.49% 10.66% 18.52%
Return on Net Nonoperating Assets (RNNOA)		 -3.36% -1.83% -5.71% -6.55% -5.26% -3.01% -6.66% -8.18% -6.76% -4.45% -6.92%
Return on Equity (ROE)		 10.94% 5.67% 10.62% 10.53% 8.16% 5.35% 9.99% 10.25% 8.37% 6.86% 12.13%
Cash Return on Invested Capital (CROIC)		 29.59% 37.37% 27.24% 28.08% 29.08% 7.09% 4.45% 7.61% 7.82% 19.81% 2.25%
Operating Return on Assets (OROA)		 10.00% 5.15% 9.46% 9.90% 7.19% 4.96% 9.22% 9.48% 7.28% 6.07% 11.16%
Return on Assets (ROA)		 8.51% 5.03% 8.00% 8.44% 6.58% 4.58% 7.40% 7.75% 6.39% 5.17% 8.61%
Return on Common Equity (ROCE)		 10.94% 5.67% 10.62% 10.53% 8.16% 5.35% 9.99% 10.25% 8.37% 6.86% 12.13%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 9.64% 10.14% 10.05% 0.00% 9.97% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 21 9.82 23 22 17 11 22 22 18 15 31
NOPAT Margin		 2.98% 1.55% 3.09% 3.07% 2.42% 1.51% 2.96% 3.11% 2.56% 2.05% 3.67%
Net Nonoperating Expense Percent (NNEP)		 1.45% 1.37% 1.09% 1.35% 0.96% 0.84% 0.64% 0.65% 0.64% 0.65% 0.54%
Return On Investment Capital (ROIC_SIMPLE)		 2.47% - - - 1.89% 1.21% 2.54% 2.44% 1.98% 1.60% 3.29%
Cost of Revenue to Revenue		 81.37% 81.32% 81.46% 81.32% 81.69% 81.84% 81.87% 80.45% 80.71% 81.61% 81.56%
SG&A Expenses to Revenue		 14.62% 16.55% 14.29% 14.54% 15.11% 15.67% 14.07% 15.28% 15.50% 15.16% 13.40%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 14.62% 16.55% 14.34% 14.54% 15.11% 16.09% 14.07% 15.28% 15.93% 15.59% 13.40%
Earnings before Interest and Taxes (EBIT)		 28 13 31 32 23 15 31 30 24 20 43
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 30 14 31 36 26 18 32 33 29 22 45
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.09 2.03 1.93 2.21 2.00 1.86 1.89 1.74 1.60 1.60 1.93
Price to Tangible Book Value (P/TBV)		 2.30 2.23 2.12 2.42 2.18 2.04 2.06 1.90 1.74 1.74 2.10
Price to Revenue (P/Rev)		 0.62 0.63 0.61 0.71 0.65 0.57 0.58 0.55 0.51 0.51 0.62
Price to Earnings (P/E)		 21.08 21.07 19.06 22.00 20.91 18.68 19.41 18.80 17.36 16.84 19.21
Dividend Yield		 0.99% 0.52% 0.56% 0.50% 0.58% 0.72% 0.76% 0.89% 1.04% 1.37% 0.96%
Earnings Yield		 4.74% 4.75% 5.25% 4.55% 4.78% 5.35% 5.15% 5.32% 5.76% 5.94% 5.21%
Enterprise Value to Invested Capital (EV/IC)		 2.68 2.76 2.67 3.32 2.94 2.41 2.46 2.33 2.08 2.08 2.45
Enterprise Value to Revenue (EV/Rev)		 0.51 0.50 0.47 0.56 0.49 0.45 0.46 0.41 0.36 0.37 0.50
Enterprise Value to EBITDA (EV/EBITDA)		 12.76 12.84 11.83 14.20 12.82 11.67 11.83 10.78 9.38 9.14 11.62
Enterprise Value to EBIT (EV/EBIT)		 14.14 14.02 12.50 15.18 13.96 12.94 13.26 11.94 10.54 10.11 12.81
Enterprise Value to NOPAT (EV/NOPAT)		 19.20 19.05 16.96 20.59 19.16 17.77 18.28 16.25 14.32 13.74 17.41
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.37 5.86 8.24 9.66 7.93 20.13 25.44 18.57 16.00 8.04 35.71
Enterprise Value to Free Cash Flow (EV/FCFF)		 8.30 6.47 9.18 11.05 9.37 35.13 57.95 31.75 27.54 10.24 115.98
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.26 -0.30 -0.37 -0.42 -0.42 -0.40 -0.42 -0.46 -0.47 -0.42 -0.37
Leverage Ratio		 1.42 1.40 1.47 1.44 1.42 1.39 1.45 1.44 1.46 1.49 1.47
Compound Leverage Factor		 1.63 1.87 1.69 1.66 1.71 1.76 1.60 1.62 1.68 1.73 1.55
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 7.13 7.47 6.29 6.94 6.66 6.67 6.65 6.31 5.81 5.42 6.16
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.20 3.53 2.95 3.13 3.14 3.16 3.09 3.06 2.90 2.70 2.88
Quick Ratio		 2.76 3.03 2.53 2.76 2.84 2.67 2.67 2.65 2.51 2.25 2.38
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 120 151 88 87 92 -25 -27 -13 -17 41 -42
Operating Cash Flow to CapEx		 548.62% 3,562.50% 2,110.56% 2,961.07% 1,069.83% -3,061.78% 1,620.86% 3,430.43% 1,253.11% 719.10% -3,304.45%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 2.49 2.42 2.25 2.26 2.25 2.38 2.27 2.22 2.17 2.17 2.22
Accounts Receivable Turnover		 4.68 4.80 4.63 4.76 4.60 5.08 4.68 4.79 4.56 4.57 4.38
Inventory Turnover		 14.05 13.91 15.13 17.74 20.82 16.99 17.51 18.86 19.56 13.57 14.32
Fixed Asset Turnover		 49.22 48.38 49.08 50.31 51.33 53.57 56.40 56.82 57.78 58.93 63.55
Accounts Payable Turnover		 9.43 9.82 7.54 8.14 8.09 9.51 7.62 7.74 7.31 7.01 7.11
Days Sales Outstanding (DSO)		 77.92 76.12 78.84 76.72 79.34 71.91 77.93 76.19 80.01 79.81 83.31
Days Inventory Outstanding (DIO)		 25.97 26.24 24.13 20.58 17.53 21.48 20.85 19.35 18.66 26.89 25.50
Days Payable Outstanding (DPO)		 38.73 37.18 48.38 44.84 45.09 38.36 47.93 47.16 49.93 52.06 51.31
Cash Conversion Cycle (CCC)		 65.17 65.18 54.58 52.46 51.78 55.03 50.85 48.39 48.74 54.65 57.50
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 544 501 489 468 468 537 539 504 503 510 612
Invested Capital Turnover		 4.80 4.82 5.29 5.57 5.54 5.54 5.63 5.92 5.91 5.53 5.19
Increase / (Decrease) in Invested Capital		 -100 -141 -65 -65 -75 36 50 35 35 -26 73
Enterprise Value (EV)		 1,458 1,381 1,304 1,554 1,378 1,293 1,325 1,175 1,047 1,062 1,501
Market Capitalization		 1,755 1,733 1,690 1,983 1,821 1,633 1,671 1,574 1,454 1,473 1,841
Book Value per Share		 $32.00 $32.35 $33.19 $34.13 $34.65 $33.52 $34.84 $35.56 $36.05 $36.58 $37.76
Tangible Book Value per Share		 $29.07 $29.44 $30.29 $31.23 $31.77 $30.64 $31.88 $32.61 $33.10 $33.63 $34.83
Total Capital		 841 853 875 897 911 877 885 903 910 922 953
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -297 -352 -386 -429 -443 -340 -346 -399 -407 -411 -341
Capital Expenditures (CapEx)		 2.24 1.61 1.82 1.79 2.36 1.71 1.62 1.87 2.19 1.98 1.93
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 423 382 373 355 353 422 425 391 394 402 504
Debt-free Net Working Capital (DFNWC)		 721 734 759 784 796 763 771 790 800 813 845
Net Working Capital (NWC)		 721 734 759 784 796 763 771 790 800 813 845
Net Nonoperating Expense (NNE)		 -3.05 -3.33 -3.42 -4.84 -3.54 -2.90 -2.34 -2.69 -2.72 -2.46 -1.84
Net Nonoperating Obligations (NNO)		 -297 -352 -386 -429 -443 -340 -346 -399 -407 -411 -341
Total Depreciation and Amortization (D&A)		 1.68 0.94 0.00 4.47 3.33 3.05 1.24 2.95 5.03 1.91 2.18
Debt-free, Cash-free Net Working Capital to Revenue		 14.86% 13.85% 13.53% 12.73% 12.60% 14.71% 14.67% 13.58% 13.71% 13.89% 16.87%
Debt-free Net Working Capital to Revenue		 25.28% 26.62% 27.51% 28.11% 28.39% 26.56% 26.63% 27.44% 27.86% 28.11% 28.27%
Net Working Capital to Revenue		 25.28% 26.62% 27.51% 28.11% 28.39% 26.56% 26.63% 27.44% 27.86% 28.11% 28.27%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.91 $0.50 $0.99 $1.03 $0.79 $0.52 $0.98 $0.98 $0.80 $0.68 $1.31
Adjusted Weighted Average Basic Shares Outstanding		 26.29M 26.36M 26.35M 26.29M 26.32M 26.08M 25.41M 25.35M 25.51M 25.20M 25.23M
Adjusted Diluted Earnings per Share		 $0.89 $0.50 $0.99 $1.02 $0.78 $0.51 $0.97 $0.97 $0.82 $0.68 $1.31
Adjusted Weighted Average Diluted Shares Outstanding		 26.43M 26.53M 26.52M 26.50M 26.51M 26.22M 25.52M 25.49M 25.63M 25.28M 25.34M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 26.36M 26.36M 26.29M 26.29M 26.16M 25.40M 25.39M 25.25M 25.20M 25.23M 25.24M
Normalized Net Operating Profit after Tax (NOPAT)		 21 9.82 23 22 17 11 22 22 18 15 31
Normalized NOPAT Margin		 2.98% 1.55% 3.13% 3.07% 2.42% 1.51% 2.96% 3.11% 2.56% 2.05% 3.67%
Pre Tax Income Margin		 4.60% 2.85% 4.83% 5.05% 3.85% 2.64% 4.49% 4.79% 3.86% 3.27% 5.33%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 10.10% 10.87% 10.68% 11.10% 12.09% 13.50% 15.08% 16.89% 18.27% 18.78% 18.43%
Augmented Payout Ratio		 16.57% 13.49% 14.76% 19.67% 26.30% 77.47% 95.53% 100.70% 109.37% 58.81% 38.17%

Financials Breakdown Chart

Key Financial Trends

PC Connection (NASDAQ: CNXN) continues to look like a financially solid, cash-generative distributor, but the latest quarter also shows some pressure in working capital and a clear decline in profitability versus the stronger periods of 2023 and 2024.

  • Strong liquidity: As of Q1 2026, the company held about $196.3 million in cash and equivalents plus $215.2 million in short-term investments, giving it substantial near-term financial flexibility.
  • Low balance sheet leverage: Total liabilities were about $503.3 million versus $921.7 million in equity, suggesting a conservative capital structure.
  • Still profitable: Q1 2026 net income was $17.2 million, showing the business remains in the black despite a tougher year-over-year comparison.
  • Positive operating cash flow: The company generated $14.3 million in operating cash flow in Q1 2026, which is an important sign of underlying business health.
  • Consistent shareholder returns: CNXN continued to pay dividends and buy back stock, with Q1 2026 dividends of $5.0 million and repurchases of $2.5 million.
  • Margins remain respectable: In Q1 2026, gross margin was about 18.4% and operating margin about 2.8%, which is still acceptable for a low-margin distribution business.
  • Revenue was fairly stable: Q1 2026 revenue of $721.9 million was only modestly above Q1 2025, indicating a relatively steady top line rather than rapid growth.
  • Inventory is elevated: Inventory rose to about $194.3 million in Q1 2026 from $151.8 million a year earlier, which may reflect stocking for demand, but it also ties up cash.
  • Working capital remains a big balance sheet item: Accounts receivable of $661.5 million and accounts payable of $396.5 million are both large, which is typical for the business model but worth monitoring.
  • Other income helps results: Investment income continues to contribute meaningfully to pre-tax earnings, reflecting the company’s large cash/investment position.
  • Profitability declined year over year: Q1 2026 net income of $17.2 million was down from $24.8 million in Q2 2025 and $20.7 million in Q4 2025, showing some softening in earnings power.
  • Operating income compressed: Q1 2026 operating income of $20.2 million was lower than the stronger quarters in 2025, indicating margin pressure.
  • Operating cash flow weakened sharply from late 2025: Q1 2026 operating cash flow of $14.3 million was far below $27.4 million in Q4 2025 and $64.1 million in Q3 2025.
  • Working capital was a drag in Q1 2026: Changes in operating assets and liabilities reduced cash flow by about $7.8 million, suggesting some seasonal or collection/inventory pressure.
  • Returns of capital exceeded recent earnings growth: The company continued to repurchase shares and pay dividends, which is shareholder-friendly, but it also uses cash that could be preserved if the operating environment weakens further.

Bottom line: CNXN appears financially resilient, with plenty of cash, no major leverage issue, and ongoing profitability. The main concern is that recent quarters show softer earnings and weaker operating cash flow compared with the stronger periods last year. For retail investors, this looks more like a stable, cash-rich business facing margin normalization than a company in distress.

08/18/26 03:12 AM ETAI Generated. May Contain Errors.

PC Connection Financials - Frequently Asked Questions

According to the most recent income statement we have on file, PC Connection's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

PC Connection's net income appears to be on an upward trend, with a most recent value of $83.72 million in 2025, rising from $46.83 million in 2015. The previous period was $87.10 million in 2024. Check out PC Connection's forecast to explore projected trends and price targets.

PC Connection's total operating income in 2025 was $99.28 million, based on the following breakdown:
  • Total Gross Profit: $539.33 million
  • Total Operating Expenses: $440.05 million

Over the last 10 years, PC Connection's total revenue changed from $2.57 billion in 2015 to $2.87 billion in 2025, a change of 11.6%.

PC Connection's total liabilities were at $440.80 million at the end of 2025, a 13.5% increase from 2024, and a 78.7% increase since 2015.

In the past 10 years, PC Connection's cash and equivalents has ranged from $0.00 in 2017 to $193.22 million in 2025, and is currently $193.22 million as of their latest financial filing in 2025.

Over the last 10 years, PC Connection's book value per share changed from 14.84 in 2015 to 36.05 in 2025, a change of 142.9%.


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Financial statements for NASDAQ:CNXN last updated on 7/29/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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